Submission of Letter of Offer for Rights Issue of Infibeam Avenues Limited
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On the reaction day the stock moved 1.1 pts more than Nifty Microcap 250 and 0.3 pts less than its Financial Technology (Fintech) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Infibeam Avenues Limited has filed the Letter of Offer for a rights issue to raise up to ₹69,998.57 lakhs (approximately ₹700 crores). The company is offering up to 69,99,85,723 partly paid-up equity shares at ₹10 per share (face value ₹1, share premium ₹9), in the ratio of 67 rights shares for every 267 shares held by eligible shareholders. The record date is fixed as June 26, 2025. The issue opens on July 3, 2025 and closes on July 11, 2025. Under the payment schedule, investors pay ₹5 per rights share on application (50%) and the remaining ₹5 on a final call as determined by the Board, making this a partly paid-up structure.
Eligible shareholders as on June 26, 2025 will receive rights entitlements and can choose to subscribe, renounce, or let the entitlement lapse. Participating shareholders will need to commit additional capital (about ₹2.50 per share held at application). The partly paid-up structure reduces the immediate cash burden, but shares will be diluted and the stock may see short-term pressure depending on how the issue is priced relative to the market price.